”I agree that this is not the moment to buy,” adds trader Joe Terranova. "Goldman took this stock off the conviction buy list on July 7th. I’d also be looking for the exits.”

Trader Steve Grasso, however, is on the other side of this play. "The price of coffee has come down and I think it will come down more,” he says. But Starbucks won’t need to lower prices. “I think skies are blue for Starbucks and greener pastures lie ahead.”

And sales at U.S. cafes open at least 13 months jumped 8 percent in the latest quarter, more than the 5.3 percent rise analysts expected. The company gets roughly 80 percent of its revenue from the United States, where traffic was up 6 percent and averagespending per visit rose 2 percent.

However, Starbucks shares are already up 60 percent from a year ago.

After Hours Action: SBUX

Starbucks rises in after hours trading, with the Fast Money team.

______________________________________________________Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.

For Steve Grasso Stuart Frankel & Co and its partners own (AAPL)Stuart Frankel & Co and its partners own (CSCO)Stuart Frankel & Co and its partners own (CUBA)Stuart Frankel & Co and its partners own (GERN)Stuart Frankel & Co and its partners own (HPQ)Stuart Frankel & Co and its partners own (HSPO)Stuart Frankel & Co and its partners own (MET)Stuart Frankel & Co and its partners own (MU)Stuart Frankel & Co and its partners own (NYX)Stuart Frankel & Co and its partners own (PFE)Stuart Frankel & Co and its partners own (PRST)Stuart Frankel & Co and its partners own (SDS)Stuart Frankel & Co and its partners own (UAL)Stuart Frankel & Co and its partners own (XRX)Stuart Frankel & Co and its partners are short (QQQQ)

For Joe TerranovaTerranova is Chief Market Strategist of Virtus Investment Partners, LTDVirtus Investment Partners Owns More Than 1% Of (ABAX)Virtus Investment Partners Owns More Than 1% Of (AMKR)Virtus Investment Partners Owns More Than 1% Of Building Materials HoldingsVirtus Investment Partners Owns More Than 1% Of (CASS)Virtus Investment Partners Owns More Than 1% Of (CSVI)Virtus Investment Partners Owns More Than 1% Of (EXR)Virtus Investment Partners Owns More Than 1% Of (FCFS)Virtus Investment Partners Owns More Than 1% Of (KRC)Virtus Investment Partners Owns More Than 1% Of (LDR)Virtus Investment Partners Owns More Than 1% Of (LHO)Virtus Investment Partners Owns More Than 1% Of (NRCI)Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries LtdVirtus Investment Partners Owns More Than 1% Of (DBV)Virtus Investment Partners Owns More Than 1% Of (RLI)Virtus Investment Partners Owns More Than 1% Of (XLB)Virtus Investment Partners Owns More Than 1% Of (XLV)Virtus Investment Partners Owns More Than 1% Of (XLP)Virtus Investment Partners Owns More Than 1% Of (XLE)Virtus Investment Partners Owns More Than 1% Of (XLF)Virtus Investment Partners Owns More Than 1% Of (XLI)Virtus Investment Partners Owns More Than 1% Of (XLK)Virtus Investment Partners Owns More Than 1% Of (XLU)Virtus Investment Partners Owns More Than 1% Of (SUBK)Virtus Investment Partners Owns More Than 1% Of (WDFC)Virtus Investment Partners Owns More Than 1% Of (YDNT)Virtus Investment Partners Owns More Than 1% Of Domino's Pizza UK & IRL PLC